Broadcom Inc. $AVGO Shares Sold by Greenwood Gearhart Inc.

Key Points

• Greenwood Gearhart Inc. reduced its Broadcom stake by 5.7% in the fourth quarter, selling 2,736 shares and leaving it with 45,550 shares valued at about $15.8 million.
• Broadcom continues to attract bullish analyst support, with several firms raising price targets; the stock has a consensus rating of Moderate Buy and an average target of $441.63.
• The company’s recent results and AI outlook remain strong: Broadcom beat quarterly earnings estimates, revenue rose 29.5% year over year, and recent commentary highlights growing demand tied to AI infrastructure and hyperscaler spending.

Greenwood Gearhart Inc. trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,550 shares of the semiconductor manufacturer's stock after selling 2,736 shares during the period. Greenwood Gearhart Inc.'s holdings in Broadcom were worth $15,765,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Baring Financial LLC raised its position in shares of Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock valued at $470,000 after purchasing an additional 29 shares in the last quarter. Five Oceans Advisors raised its position in shares of Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after purchasing an additional 29 shares in the last quarter. Jackson Hole Capital Partners LLC raised its position in shares of Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock valued at $716,000 after purchasing an additional 30 shares in the last quarter. Private Wealth Partners LLC raised its position in shares of Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock valued at $1,410,000 after purchasing an additional 30 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV raised its position in shares of Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after purchasing an additional 30 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Morgan Stanley upped their target price on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research report on Friday, March 6th. Royal Bank Of Canada lowered their price target on Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a report on Monday, March 2nd. Benchmark reiterated a "buy" rating and issued a $485.00 price target on shares of Broadcom in a report on Thursday, March 5th. JPMorgan Chase & Co. boosted their price target on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Finally, Mizuho reiterated an "outperform" rating and issued a $480.00 price target on shares of Broadcom in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $441.63.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom remains a favored way to play AI infrastructure, with multiple recent articles highlighting its growing exposure to custom AI silicon, data-center networking, and AI semiconductor revenue. Citi also raised its price target to $500, reinforcing optimism ahead of the next earnings report.
• Positive Sentiment: Wells Fargo lifted its price target to $545 and said AI semiconductor revenue is running 30% to 40% above expectations, suggesting Broadcom may still be benefiting from stronger-than-expected hyperscaler spending.
• Positive Sentiment: Recent investor interest has also been supportive, with hedge fund and prominent manager buying cited in several notes, alongside Broadcom being named among top tech stocks to own as AI optimism continues to drive the market.
• Neutral Sentiment: Broadcom was also mentioned in a broader AI rotation piece that argues the next leg of the rally may be in AI bottlenecks such as optics, networking, and memory rather than only the most obvious chip winners. Broadcom was specifically named as one of the companies positioned to benefit from optical interconnect demand.
• Negative Sentiment: UBS warned that AI stocks, including Broadcom, are increasingly crowded trades, raising the risk of a pullback if enthusiasm cools or if investors rotate out of mega-cap semiconductors.
• Negative Sentiment: Some commentary also suggests the AI chip rally may be masking broader market weakness, which can make even strong names like Broadcom vulnerable to profit-taking after a powerful advance.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $425.19 on Friday. Broadcom Inc. has a twelve month low of $221.60 and a twelve month high of $442.36. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 83.05, a price-to-earnings-growth ratio of 0.91 and a beta of 1.43. The business has a 50 day simple moving average of $365.61 and a 200-day simple moving average of $354.62.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 EPS. As a group, equities research analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's dividend payout ratio is presently 50.78%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 39,116 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This represents a 34.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock valued at $106,425,249 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.